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ExNet Daily News

2009-08-16 16:43:17
Management Rights - US Launch
Ft Lauderdale based Realtor, Linda Iverson, the Licensed Broker-Principal of Sanctum Stay Corp takes pleasure in being the first licensed brokerage firm in Florida to launch the Management Rights based business system to Florida and in due course expects to be able to introduce the ExNet Soft Dollar trading system to properties where Sanctum Stay has set up its proprietary Management Rights base residential lodging template.

MANAGEMENT RIGHTS
Originating in Queensland, Australia in the early 1970’s the Management Rights industry is now a multi-billion dollar service industry providing outsourced based Value Added Managed Services (VAMS) to the residential lodging sector. Management Rights is an asset created when a management entity acquires the contractual rights to manage an income producing residential property. These Management Rights deliver to the holder, inter alia, the right to collect revenues and receive a revenue based performance fee. This is accomplished through marketing and sales to the targeted niche market, (as well as the public at large) of the income producing property (units / suites / condo’s) within the complex/building being managed.

THE LODGING PRODUCT
Here in Florida our Management Rights program targets new developments where the Condo or Homeowners Association rules allow short term stay. This in turn opens up the vacation, extended stay and relocation market where travelers require greater “home comforts” at rates way less than those charged by hotels for much smaller living space. Existing condo & homeowner associations would only need to change their rules to allow shorter term stay and they too could take advantage of the benefits that Management Rights could bring to them.

BENEFITS TO OWNERS
The principal benefit to Owners is financial. Under a Management Rights system the revenues and ultimate Internal Rate of Return (IRR) back to the owner is enhanced because of the more effective on-site delivered management services available without any need to bring in any external service providers in the field of management or letting.

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